4289 Lac Saint Pierre Dr Harvey, LA 70058
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 4289 Lac Saint Pierre Dr
- Year built
- 1980
- Property size
- 26,400 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 24-unit apartment complex in Harvey, Louisiana, situated on a substantial 65,000 sq ft lot, including four vacant parcels. The property boasts 26,400 square feet of space, currently 100% occupied, with a mix of two-bedroom, one-and-a-half-bath and two-bedroom, two-bath units. Each unit is individually condo'd and features in-unit washer/dryer hookups. Community amenities include a swimming pool and tennis court. Built in 1980, this Class B property offers significant value-add potential. The current NOI is $218,772, with a pro-forma NOI projected at $238,092, resulting in a pro-forma cap rate of 9.52%. The asking price is $2,500,000, representing a price per square foot of $94.70 and a price per unit of $104,166.67. Market rent comparables suggest potential for rental rate increases to $1,350 per month, further enhancing the property's profitability. The property's location in the highly desirable Harvey market ensures strong tenant demand and low turnover. The four vacant lots provide an opportunity for future expansion and increased revenue generation. This property is an ideal addition to any investor's portfolio, offering a blend of immediate income and long-term growth potential.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Harvey
- County
- Jefferson Parish
- State
- Louisiana
- Longitude
- -90.0443
- Latitude
- 29.843
